Higher U.S. gasoline stockpiles resulted in a more than 3% drop in crude oil prices in Thursday’s trading. Prices were also affected after a European Central Bank raised rates, increasing growing concerns about the prospects of a worldwide recession.
Prices dropped on the New York Mercantile Exchange more than $3 a barrel including a plunge of $3.53 for West Texas Intermediate crude for September delivery which settled at $96.35 a barrel.
Global benchmark for Brent crude for September delivery fell $3.06 to $103.86 a barrel on ICE Futures Europe.
August natural gas fell 7 cents to $7.93 per 1,000 cubic feet.
Meanwhile Oklahoma energy stocks for the most part suffered losses for the day including a 7% drop for Helmerich & Payne while Empire Petroleum had a 7% gain for the day.
Apache (APA) down 1.59 at 33.29 – change 4.55%
Cheniere (LNG) up 1.46 at 137.22 – change 1.07%
Chevron (CVX) down 1.13 at 145.40 – change 0.77%
ConocoPhillips (COP) down 1.78 at 88.93 – change 1.97%
Diamondback Energy (FANG) down 2.80 at 115.97 – change 2.36%
Energy Transfer LP (ET) down 0.11 at 10.36 – change 1.06%
Enterprise Products Partners (EPD) up 0.13 at 25.71 – change 0.50%
EOG Resources (EOG) down 2.01 at 103.56 – change 1.91%
ExxonMobil (XOM) down 1.49 at 87.75 – change 1.67%
Kinder Morgan (KMI) up 0.34 at 17.66 – change 1.96%
Marathon Oil Corp. (MRO) down 0.76 at 22.16 – change 3.32%
National Oilwell Varco (NOV) down 0.26 at 14.88 – change 1.72%
Occidental Petroleum (OXY) down 1.55 at 62.00 – change 2.44%
Phillips 66 (PSX) down 1.64 at 85.21 – change 1.89%
Pioneer Natural Resources (PXD) down 3.53 at 213.28 – change 1.63%
Tellurian Inc. (TELL) down 0.08 at 3.71 – change 1.86%
Valero (VLO) down 5.13 at 104.15 – change 4.70%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.08 at 92.79 – change 0.08%
CenterPoint (CNP) down 0.06 at 29.32 – change 0.21%
Entergy (ETR) down 0.31 at 107.96 – change 0.29
